The Fed Up Fix Is In – Ep. 190
The Peter Schiff Show Podcast
Peter Schiff
4.6 • 5.9K Ratings
🗓️ 31 August 2016
⏱️ 44 minutes
🧾️ Download transcript
Summary
* The price of gold continues to retreat
* Gold was down about $12 today; it closed around $1310
* The dollar index up again as more and more people begin to contemplate the possibility of a rate hike in either September or December
* Or maybe even both, because the odds of a rate hike, either in September or December have now increased to about even money
* If you go back to June, the odds were practically zero
* What has changed in the last couple of months?
* The only thing that has really happened is that you've had various Fed officials going out of their way to mention that a rate hike is still possible
* Why would they do that?
* Obviously, a rate hike is possible
* Usually they are asked the question and they mention the possibility
* If the Fed had no intention of raising interest rates, I doubt they would admit it at this juncture
* They want people to believe that a rate hike is possible because if you admit that it's not possible,
* That opens a can of worms that the Fed isn't interested in opening just yet
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Transcript
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| 0:00.0 | Well, the price of gold continues to retreat. |
| 0:11.9 | Gold was down about maybe 12 bucks today, closer on $1,310 an ounce of dollar index up |
| 0:19.0 | again today just back above the 96 handle. |
| 0:22.7 | As more and more people begin to contemplate the possibility of a rate hike in either September |
| 0:30.2 | or December or maybe even both because the odds of a rate hike either in September |
| 0:38.7 | or December have now increased to about even money. |
| 0:42.6 | According to the markets, whereas if you go back to June a couple of months ago, it was |
| 0:46.6 | practically zero. |
| 0:47.9 | The odds of a rate hike in September and it was still a way long shot that we might get |
| 0:52.1 | one in December. |
| 0:54.2 | But what has changed in the last couple of months to make people who thought that there |
| 0:59.2 | was basically no chance that the Fed was going to hike rates to thinking that it's a coin |
| 1:04.1 | toss? |
| 1:05.1 | Well, the only thing that's really happened is that you've had various Fed officials |
| 1:11.6 | going out of their way to mention that a rate hike is still possible. |
| 1:19.0 | Now I mean, why would they do that? |
| 1:21.0 | I mean, obviously a rate hike is possible. |
| 1:23.9 | I mean, who's going to say it's impossible? |
| 1:25.9 | There's no way that they're going to say that hiking rates is an impossibility and just |
| 1:30.0 | rule it out completely, right? |
| 1:31.6 | So it's always possible. |
| 1:34.3 | But why are they going out of their way to mention it? |
... |
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